Would you buy while in escrow on YOUR house?

Hi all -

Would you buy investment property while you were in escrow on your primary residence? Here’s my story: Cashed out of CA and moved to DC (husband got job in the “new” Silicon Valley). We only had 2 properties to sell and walked away with $200K. Unfortunately, where we are in Northern VA is a worse sellers market than CA (if you can believe that!) - anything under $600K is sold within hours to multiple contracts. Over $600K, you might have to wait a week or so for it to sell! Completely caught us off guard. Anyway, we were lucky to contract (in January) for a renovation project that won’t close until July!

So, I’m totally eager to get some investment properties going (NC is very promising) but am scared to death to jeopardize the purchase of my home. But I don’t want to miss the buyers market down there. We have 800+ credit (putting 35% down on our place, but want to put 0% down on investments).

Should I just chill out for 3 more months or take the plunge? (I’m looking at condos that will produce about $100/mo cash flow provided I have them rented!)


I would recommend talking to your mortgage broker about this. Based on the information they have about you, they will be able to tell you if making other RE investments would jeapordize the approval for a loan on your primary residense.


You don’t want to do anything that will make the lender nervous. I would wait until after you close on your new home.